In General, the Greater the Proportion of Resources Devoted to Technological

question 133

Multiple Choice

In general, the greater the proportion of resources devoted to technological research in an economy, the

• A)greater is current consumption.
• B)closer it comes to having a comparative advantage in the production of all goods.
• C)faster the production possibilities frontier shifts inward.
• D)faster the production possibilities frontier shifts outward.
• E)more bowed out is the shape of the production possibilities frontier.

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Definitions:

Minor Axis

The shortest diameter of an ellipse, which passes through its center and is perpendicular to the major axis.

Function

A connection between a collection of inputs and a group of allowable outputs where each input is tied to only one output.

Graph

A diagram showing the relation between variable quantities, typically of two variables measured along a pair of axes at right angles.

Function

An association involving a series of inputs and an approved set of outputs, where every input corresponds to a singular output.